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Thursday, March 13, 2014

An education in Bitcoin

Bitcoin is the world's most innovative digital currency. It utilises a
peer to peer payment system using digital currency which enables you to
transfer currency privately and securely. Bitcoin utilizes cryptography to
control the creation and transfers of money; you send payments by broadcasting
digitally signed messages to the Bitcoin network. These transactions are then
verified and recorded into a shared public database called the block chain. Subsequently customers are rewarded with transaction fees and newly minted
bitcoins.

The worldwide success of bitcoin has spawned a variety of educational
resources which teach you the basics and benefits of bitcoin. Here are but a
few of these online resources:

·CoinDesk is a London-based resource and
news operation which provides coverage for Bitcoin and digital currencies in
general. It is a valuable resource for any readers who are not
technically adept but express an interest in broadening their knowledge of the
ever-expanding Bitcoin ecosystem.

·The Genesis Block – This site
offers a slightly more technical yet immensely educational resource on Bitcoin.
The Genesis Block are a self proclaimed news and tutorial site which
cover the fundamental aspects of bitcoin, including mining, trading, economics,
and businesses, as well as regularly generating new relevant content on bitcoin
updates and trends.

·BitcoinEducation Project – To grant it its full title; “Bitcoin or How I
Learned to Stop Worrying and Love Crypto: The definitive guide to understand
what the bitcoin is and why we should care about them.” is one of many
educational courses founded by entrepreneur Charles Hoskinson. The site
provides a collection of free mini-lectures which deliver comprehensive detail
on the basics of Bitcoin as well as further specialized topics such as bitcoin
wallets, mining, transaction fees and cold storage.

·Let’s Talk Bitcoin – Produced
by Adam Levine, this new podcast provides current news, topical interviews and
studied analysis on the wonders of bitcoin. Available on on Tuesdays and
Thursdays, this provides a regular forum through which you can send in
questions and comments about all things bitcoin!

This process first occurred in November
last year when the University of Nicosia in Cyprus became the first private educational
institution to accept Bitcoin as tuition payment. Cumbria in the UK is now the
first public educational institution to implement this practice. Cumbria will initially
apply this process to only two of its programmes; the certificate of achievement
n sustainable exchange and the postgraduate certificate in sustainable
leadership. The selection of these two course is key as they revolve around
complementary currencies.

Jem Bendell, founder and director of the university's
new Institute for Leadership and Sustainability recently stated:

“We believe in learning by
doing, and so to help inform our courses on complementary currencies, we are
trialling the acceptance of them...Some support Bitcoin due to its speed and
cost, others due the new era of financial freedom it could enable...Others are
concerned about it and how it will affect economies and society. Others think
that what comes next will be even more important. We think it is essential to
become better informed, and analyse it from many different perspectives”

Although Bitcoin remains a
contentious financial issue, with many businesses and legal firms such as Pinnington Law and Gillhams warning against its insecure nature, Bitcoin
continues to grow in popularity across the world. As more people become
educated in how to use Bitcoin, it is possible that this innovative technology
may lead to a new era of digital currency.

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